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Old 05-21-2008, 01:53 PM
 
77 posts, read 238,287 times
Reputation: 44

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Colt Gateway


This is my second post as i just returned from Hartford this morning after being out there for 2 days. First, i wish i found this forum before i looked for apartments, but i think i made a good decision by leasing in Clemens place and making CT my new home. However, this post is not about where i am living, but about the old Colt factories that are being redone. I found out about them a day late since i am back home, but my GF will be working in the Colt area (river street autism program) and the Residential housing is available now and commercial is in progress.

If any of the locals know more about this area and what is going on please chime in, but it looks like this area is going to be up and coming with millions being invested.

Thanks to everyone who has posted insightful opinions of Hartford which will aide my first months in town.

Regards

Last edited by bassholic; 05-21-2008 at 02:18 PM..
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Old 05-21-2008, 02:28 PM
 
Location: Connecticut
34,937 posts, read 56,945,109 times
Reputation: 11228
Yes, the Colt Building is beautiful and the restoration looks wonderful but there are some problems with it. Before this redevelopment was started the Colt Building was home to a lot of artists and work-at-home residents drawn to the great space and cheap rents. Sadly these were displaced to make way for the upscale apartments and offices. The developer is currently facing financial problems which is making it difficult to finish this project. I believe that the leasing of space has been slow since the area is a bit removed from downtown and is not one of the better locations in the city to live. I has a lot of hope for the project when a major technology firm rented out a large chunk of space for their offices but after that things slowed considerably. Too bad, but I think one day this will be a great place to live and work. Jay
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Old 05-26-2008, 01:38 PM
 
1 posts, read 9,091 times
Reputation: 11
Default Colt is a big mess

The developer of Colt Gateway is in serious trouble. Multiple lawsuits and financing problems on MANY projects throughout the US. No money for Colt, and they may be facing criminal fraud charges on their loan based on recent SEC filings. If you are thinking about renting here, stay away, as the probability that the property will be tied up in legal proceedings for the near future is close to 100%. It will be hell living there during the next several years. Once, Homes For America Holdings is out, it will be a great part of Hartford's future.
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Old 05-26-2008, 03:18 PM
 
1,219 posts, read 4,218,650 times
Reputation: 591
Yeah, you're probably better off having rented in Clemens Place, it's stable.
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Old 05-28-2008, 10:07 AM
 
77 posts, read 238,287 times
Reputation: 44
Thanks for the input. My girlfriend ended up not taking the job at the River Street School and will be working in Waterbury or Meriden depending on what school and commute she likes best. So we are living on Farmington Ave and i commute to East Hartford 3 miles away and she is 30ish miles S. of our place.

Come June 9th we get the luxury of seeing what traffic will hand us.

I will be making a new thread, but the next thing i need help with is WHERE to pick up my first rental property and what i should get. It looks like 3 families are a big rave etc.
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Old 01-06-2009, 01:28 PM
 
1 posts, read 8,582 times
Reputation: 10
Red face Lynn

Quote:
Originally Posted by bassholic View Post
Thanks for the input. My girlfriend ended up not taking the job at the River Street School and will be working in Waterbury or Meriden depending on what school and commute she likes best. So we are living on Farmington Ave and i commute to East Hartford 3 miles away and she is 30ish miles S. of our place.

Come June 9th we get the luxury of seeing what traffic will hand us.

I will be making a new thread, but the next thing i need help with is WHERE to pick up my first rental property and what i should get. It looks like 3 families are a big rave etc.


Too bad you did not rent at the Colt gateway. The project has resumed and there is a new investor and great things are starting to happen. The apartments are amazing and the building has a nice vibe.
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Old 01-06-2009, 02:43 PM
 
Location: Wethersfield, CT
1,273 posts, read 4,160,607 times
Reputation: 907
A coworker of mine owns a condo across the street from there.
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Old 01-06-2009, 05:47 PM
 
35 posts, read 142,837 times
Reputation: 20
The rent that Colt is asking for is outrageous for that part of town IMO. You can see their ads on Craigslist...
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Old 01-23-2009, 08:17 AM
 
2 posts, read 9,193 times
Reputation: 10
I've been inside the units and they are incredible. It's true that the rents are steep, and probably more geared towards what they would be worth were the project complete, but what has been done was done very well.

As stated above, the problem is that development stalled for two years because of very serious financial issues. It's impossible to maintain apartments with no money, so I could easily see regular maintenance being deferred. Trouble with the city; trouble with the state; trouble with the lenders themselves (who have declared bankruptcy and are being investigated for questionable lending practices) all spells trouble for the project. I've heard that a new investor is in the picture, but because project is still being overseen by Homes for America...I fear that the future will be more of what has happened in the past.

The site will be a great place to live and work someday. I hope I'm alive to see it.
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Old 01-08-2010, 08:11 AM
 
2 posts, read 8,644 times
Reputation: 10
i work and live for coltgateway it is a great place to live there may be me problems tring to develope the rest of the property but thast is only becasuse banks are nmot loaning money the apartmetns are beautiful great veiws and great layouts The tenets are great it is a very diverse crowd and everyone is very friendly when i money is given that is needed colt WILL be the new hot spot in hartford
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